Competing on Value-Based Outcomes In Healthcare

 

Value based healthcare, InnoThink Group, Leadership training, Jim Woods, Top Speakers

More and more health care organizations are starting to focus on providing superior health outcomes as a way to distinguish themselves in the fast-changing health-care marketplace. The new competitive model is emerging in bits and pieces in many different health systems around the world.

“In the global struggle to manage the cost of health care, practitioners and policymakers are increasingly focusing on value—delivering the best possible health outcomes at a given level of cost. The shift is happening in different ways and at different rates in different markets. But it has progressed to the point where the global trend is clear, and more and more players are starting to focus on providing superior health outcomes as a way to distinguish themselves in the fast-changing health-care marketplace. We call this approach competing on outcomes.

Competing on outcomes has the potential to improve the value delivered by the entire health system. Considerable competition exists in the health care industry today, but too often it is focused on the wrong things: maximizing the number of specific procedures, whether they are medically necessary or not; amassing enough market power to dominate pricing in a given regional market; or offering the lowest cost—with no consideration of the impact on the quality of care.

The advantage of competing on outcomes is that it focuses competition on what really matters to patients and what ought to be the raison-d’être of any health system: delivering cost-efficient, quality care. Transparency of patient results aligns incentives so that payers, providers, suppliers, and patients all work toward the same goal, making it possible for the market to effectively manage the tradeoffs between cost and quality. […]”

Read full article bcg.perspectives – Competing on Outcomes.

Jim is president of Leadership Matters and InnoThink Group a human resources and leadership management consulting firm. He has an absolute passion for people development and are constantly refining and adapting his programs in order to ensure that they have the maximum impact on those we serve. – See more at: http://innothinkgroup.com/our-leadership.html

See a partial list of Jim’s clients. Hire Jim Woods to Speak  | Follow us: Facebook | Follow us: Twitter | Skype ID – jim.woods79 http://www.innothinkgroup.com

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About

Jim Woods is president of The Jim Woods Group. A management consulting firm. Go here to see his work www.jimwoodsgroup.com. He advises and speaks to organizations large and small on how to increase top line growth in times of uncertainty and complexity. Some of his speaking and consulting clients include: U.S. Army, MITRE Corporation, Pitney Bowes, Whirlpool, and 3M. See more at his website www.jimwoodsgroup.com.

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